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115 Million Ounces…Not Even Close To Possible! – Bill Holter

by Bill Holter, JS Mineset:

I thought I would put today in perspective for those throwing in the towel on gold and silver. 23,000 silver contracts were sold in just a few minutes this morning. This equates to 115 million ounces. For perspective, there are only two countries in the world that produce this much in one year, Mexico and Peru. China roughly produces 115 million ounces but the production is not normally sold onto world markets.

Looking at this from a “company” perspective, no single company even comes close to producing 115 million ounces. In fact, the three largest silver producing companies in the world, Fresnillo, KGHM Polska, and Goldcorp only produce about 125 million ounces combined over a year’s time.

Today’s action, selling 115 million ounces of silver is an impossibility in any “real world” governed by any real rule of law because of the above production numbers. As I have said for years when these raids occur, “no one has this much silver to sell, and no one would be stupid enough to sell in this fashion if they were trying to get the best price possible for themselves or their client”.

What you witnessed today was an act of total desperation not to mention stupidity. “They” have absolutely tipped their hand and done something so obvious and egregious that they have probably ended their own “game”. You should understand one thing and one thing only from today, buy as much physical silver as you can possibly afford and have it delivered out to you or a non bank vault.

I say this because “game over” has arrived and the day is quite near when gold and silver will not be attainable at any fiat price. They will be bid with no offer. Ask yourself a couple of very simple questions. Could anyone enter an order to purchase 100 million ounces of silver and actually have it filled and real silver delivered? During a time of stress in the financial system, how many different individuals/corporations/money managers/countries have the ability to swing a $2 billion trade? 1,000? 10,000? More? Money is sloshing around a system with no foundation and stumbling like a drunk with a .3 blood alcohol level, all that is needed to completely wipe out and default these paper markets is “pocket change” to many, many entities. “Fear” will be the initial trigger, what do you suppose the emotion will be when it is understood gold nor silver is available for purchase? Please use your God given common sense, what was done today is not a possibility if the market was real, it is not!

Standing watch and calling bullshit on this one!

Bill Holter

Read More @ JSMineset.com

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2 comments to 115 Million Ounces…Not Even Close To Possible! – Bill Holter

  • Bob

    What’s not even close to possible is that this latest attack on the silver market means game over for the criminal bankers. They’ve done this plenty of times before, and they’ll continue to do it. They can just make up naked shorts out of thin air with no check by the regulators–no surprise since they’re backed by the government, which can print as much money as it wants to control any market. Just last year, this same sort of analysis was saying not even governments had enough ammunition to control the oil markets, but that’s exactly what they’re doing. If they can control oil, which is orders of magnitude larger than the silver market, they can easily make silver go wherever they choose. Right now their shorts are near a record high and if past is prologue that means this latest attack is just beginning. Clowns like Holter are paid to write this kind of nonsense, and it may make those of us ripped off by the bankers feel better, but it’s all BS.

    • Steelerdude

      Exactly Bob…its all BS and paper is still king, which goes to say that the future markets are
      rigged by the PPT.
      The only the metals could possibly break the grip of the futures market is if China came out
      and set the prices of what they should be and saying “screw you America!”

      Actually, Im surprised they havent already done this….

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